In a major development, United Spirits Ltd ( USL) has announced full divestiture of its stake in Royal Challengers Sports Pvt Ltd ((RCSPL) to a consortium comprising Aditya Birla Group, The Times of India Group , Bolt Ventures and Blackstone’s perpetual private equity strategy, BXPE for ₹16, 660 crore.
RCSPL owns and operates Royal Challengers Bengaluru (RCB) franchisee that participates in the Indian Premier League(IPL) and Women’s Premier League (WPL).
Upon completion of this transaction, the consortium will, through its ownership of RCSPL, acquire the rights to own and operate the IPL and WPL franchise.
This announcement concludes the strategic review of RCSPL that was initiated by USL, as announced on November 05, 2025. The transaction is subject to satisfactory completion of customary closing conditions and legal, regulatory and other approvals, including from the Board of Control for Cricket in India (BCCI) and the Competition Commission of India.
USL MD & CEO Praveen Someshwar said: “This transaction marks an important milestone for USL as we sharpen focus on our core beverage alcohol business to unlock its true potential with sustained growth, and to continue delivering on long-term value creation for our stakeholders. RCB has grown into the most prominent and commercially successful franchise in the IPL and WPL. Guided by its ‘Play Bold’ philosophy and a strong competitive spirit, it has built a globally recognized brand and a passionate fan base.”
We are excited for the future of RCB under the stewardship of the new owner. As Sports enters a new phase of growth in India & globally, we believe this is in the best interest of the franchise and our stakeholders. On behalf of USL, I thank everyone who has contributed to RCB’s journey for their continued support – the BCCI, the fans, players and employees, he added.
The acquiring consortium stated: “We are proud to become custodians of RCB and grateful to USL and Diageo for the franchise they have built. RCB’s championship-winning culture, its deep connection to Bengaluru, and one of the most passionate fanbases in world sport make this an extraordinary opportunity. We are committed to taking RCB to new heights, on the pitch and beyond.”
Citigroup India and AZB Partners served as advisors and counsel to USL. The acquiring consortium brings together three partners with complementary strengths across sport, media, technology, and brand-building.
Aditya Birla Group is one of India’s largest and most respected conglomerates, with operations spanning over 40 countries and a legacy of over 165 years.
The Times of India Group is one of India’s largest media conglomerates and operates the most comprehensive cricket ecosystem in the world, encompassing Cricbuzz, Willow TV, Major League Cricket, and the London Spirit.
Bolt Ventures is the private investment platform of David Blitzer, one of the most prominent sports investors in the world, with ownership stakes across the EPL, NBA, NHL, NFL, MLB, MLS, and other leagues across five continents. Blackstone is the world’s largest alternative asset manager, with $1.3 trillion in assets under management across global investment strategies.